US trade group eyes normal Russia trade relations

The American Chemistry Council (ACC) on June 12 issued a statement regarding the introduction of legislation by the US Senate Committee on Finance to establish permanent normal trade relations with Russia.

Keywords:

The American Chemistry Council (ACC) on June 12 issued a
statement regarding the introduction of legislation by the US
Senate Committee on Finance to establish permanent normal trade
relations (PNTR) with Russia.

The statement reads: "We applaud Committee Chairman Max
Baucus, International Trade Subcommittee Ranking Member John
Thune, Foreign Relations Committee Chairman John Kerry, and
Armed Services Committee Ranking Member John McCain for their
commitment to improving trade relationships overseas and for
working to create jobs across every sector of America's
economy.

"The World Trade Organization has opened its doors to
Russia, and the US must do the same if it wants to capitalize
on free-market access to the world's ninth-largest economy.
Access to new foreign markets like Russia is increasingly
essential for the continued expansion and competitiveness of
American chemistry, and it will help the US meet President
Obama's stated goal of doubling US exports by the end of
2014.

"Chemical-product exports totaled $197 billion (B) in 2011,
and one quarter of the chemical industry's 788,000 jobs depends
on international trade. Export growth in the chemical industry
spurs additional investment in manufacturing and related
exports, creating a ripple effect of job creation, investment
and economic growth."

ACC is committed to improving environmental, health and safety
performance through the Responsible Care program, it
said, including commonsense advocacy designed to address
major public policy issues, and health and environmental research and product
testing. T

he business of chemistry is a $720bn enterprise and a key
element of the US economy. It is one of the nation's largest
exporters, accounting for ten cents out of every dollar in US
exports.

Have your say

All comments are subject to editorial review.
All fields are compulsory.